Impact Assessment Of The Role Of Nigerian Stock Exchange On The Economic Development Of Nigeria

Authors

  • Okoh Lucky Department of Business Administration, Delta State Polytechnic, Ozoro, Nigeria.
  • Ekane O. Raphael Department of Banking and Finance, Delta State Polytechnic, Ozoro, Nigeria.

Abstract

The stock exchange is a specialized market for the buying and selling of securities. These securities include stocks and shares which represent ownership interests in business, debentures and government bonds. The study assessed the impact that the Nigerian Stock Exchange has created on the development of the Nigerian economy. To achieve the objectives, this study reviewed Stock Exchange, its functions, activities, roles, and legislation. The advantages and disadvantages of listing on the stock market were also x-rayed. Also highlighted were the trading, clearing and settlement process of the Nigerian Stock Exchange and the short comings. The study concluded that for the Nigerian Stock Exchange to contribute significantly in the development of the Nigerian economy through mobilization and utilization of funds for expansion of business enterprises in the country, it should intensify efforts in creating public awareness as regards its services to the economy, effective investor education, fostering and stimulating speculation
in the market and reforms that would compel investors to take due diligence
when funds are to be raised by government to eliminate the buying and selling culture that exists in the market should be carried out.

Author Biography

Ekane O. Raphael, Department of Banking and Finance, Delta State Polytechnic, Ozoro, Nigeria.



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Published

2011-04-01

How to Cite

Lucky, O., & Raphael, E. O. (2011). Impact Assessment Of The Role Of Nigerian Stock Exchange On The Economic Development Of Nigeria. International Journal of Economic Development Research and Investment (IJEDRI), 2(1), 184–190. Retrieved from http://icidr.org.ng/index.php/Ijedri/article/view/757

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